A Deadline is coming up on January 2, 2018 in the lawsuit for investors in Novan Inc (NASDAQ:NOVN and NASDAQ:NOVN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/27/2017 -- The Shareholders Foundation announces that a deadline is coming up on January 2, 2018 in the lawsuit filed for investors of Novan Inc (NASDAQ:NOVN) over alleged securities laws violations by Novan Inc.
Investors who purchased shares of Novan Inc (NASDAQ:NOVN) have certain options and there are strict and short deadlines running. Deadline: January 2, 2018. NASDAQ:NOVN stockholders should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Middle District of North Carolina the plaintiff alleges that Novan, certain of its officers and directors, and the underwriters of its IPO violated the Securities Act of 1933 and that Novan and its former CEO and CFO violated the Securities Exchange Act of 1934 More specifically, the plaintiff alleges that in the IPO Registration Statement and Prospectus, and between September 26, 2016 and January 26, 2017, defendants made materially false and misleading statements regarding Novan's business and outlook, specifically regarding SB204. The plaintiff alleges that the Defendants' statements falsely stated that the two Phase 3 clinical trials were identical and omitted specific facts as to why the two critical trials were, in fact, not identical, that as a result of these false statements, the Company's outlook and expected financial performance were not accurately represented to the market at all relevant times and that as a result of defendants' false statements between September 26, 2016 and January 26, 2017, the price of Novan Inc (NASDAQ:NOVN) stock climbed significantly above the IPO price of $11.00 per share, reaching as high as $29.09 per share on December 7, 2016.
Those who purchased shares of Novan Inc (NASDAQ:NOVN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego